Why firms are reluctant to cut dividend? Evidence from managerial overconfidence
碩士 === 國立交通大學 === 財務金融研究所 === 107 === Prior studies document firms’ reluctance of dividend cut from the perspective of information content and catering incentives. In this study, we explain this phenomenon from the perspective of managerial overconfidence. We find that managerial overconfidence is s...
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2019
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| Online Access: | http://ndltd.ncl.edu.tw/handle/h3xnn2 |
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ndltd-TW-107NCTU53040282019-11-26T05:16:48Z http://ndltd.ncl.edu.tw/handle/h3xnn2 Why firms are reluctant to cut dividend? Evidence from managerial overconfidence 經理人過度自信對股利僵固性的影響 Liu, Nai-Tzu 劉乃慈 碩士 國立交通大學 財務金融研究所 107 Prior studies document firms’ reluctance of dividend cut from the perspective of information content and catering incentives. In this study, we explain this phenomenon from the perspective of managerial overconfidence. We find that managerial overconfidence is significantly positive to reluctance of dividend cut (dividend stickiness behavior). We further find that the effect of overconfidence on dividend stickiness is more pronounced for firms without catering incentives. Lin, Jui-Chia 林瑞嘉 2019 學位論文 ; thesis 39 en_US |
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NDLTD |
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en_US |
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Others
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NDLTD |
| description |
碩士 === 國立交通大學 === 財務金融研究所 === 107 === Prior studies document firms’ reluctance of dividend cut from the perspective of information content and catering incentives. In this study, we explain this phenomenon from the perspective of managerial overconfidence. We find that managerial overconfidence is significantly positive to reluctance of dividend cut (dividend stickiness behavior). We further find that the effect of overconfidence on dividend stickiness is more pronounced for firms without catering incentives.
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| author2 |
Lin, Jui-Chia |
| author_facet |
Lin, Jui-Chia Liu, Nai-Tzu 劉乃慈 |
| author |
Liu, Nai-Tzu 劉乃慈 |
| spellingShingle |
Liu, Nai-Tzu 劉乃慈 Why firms are reluctant to cut dividend? Evidence from managerial overconfidence |
| author_sort |
Liu, Nai-Tzu |
| title |
Why firms are reluctant to cut dividend? Evidence from managerial overconfidence |
| title_short |
Why firms are reluctant to cut dividend? Evidence from managerial overconfidence |
| title_full |
Why firms are reluctant to cut dividend? Evidence from managerial overconfidence |
| title_fullStr |
Why firms are reluctant to cut dividend? Evidence from managerial overconfidence |
| title_full_unstemmed |
Why firms are reluctant to cut dividend? Evidence from managerial overconfidence |
| title_sort |
why firms are reluctant to cut dividend? evidence from managerial overconfidence |
| publishDate |
2019 |
| url |
http://ndltd.ncl.edu.tw/handle/h3xnn2 |
| work_keys_str_mv |
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